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Life Health > Health Insurance

UnitedHealth Reports Higher Net Income

By Staff Writer

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NU Online News Service, Oct. 26, 2:12 p.m. – UnitedHealth Group Inc., Minnetonka, Minn., is reporting $231 million in net income for the third quarter on $5.9 billion in revenue, up from $182 million in net income on $5.4 billion in revenue for the third quarter of 2000.

UnitedHealth sells health care data services and health plan administration services as well as health coverage.

The UnitedHealth Care and Ovations units, the units that sell health coverage, grew faster than the rest of the company, generating $237 million in net income on $5.2 billion in revenue, up from $187 million on $4.7 billion in revenue.

Ovations manages the giant Medicare supplement program that Ovations manages for AARP, Washington.

Ovations says its revenue increased to $1.1 billion, from $921 million, while AARP Medicare supplement program enrollment is up 11%.

Meanwhile, on the commercial health side, revenue increased to $4.1 billion, from $3.8 billion, while enrollment held steady at 7.6 million people.

Average revenue per health care services member increased 10%, to $607.

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